M/S MANGALA INVESTMENTS LTD vs. THE DEPUTY COMMISSIONER

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ITA/681/2017HC KarnatakaKAHC01039412201715 February 2021Bench: ALOK ARADHE,R. NATARAJ2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court of Karnataka considered the memo filed by the assessee's counsel seeking leave to withdraw the appeal. The Court took the memo on record. For the reasons assigned in the memo, the High Court dismissed the appeal as withdrawn. The Court also granted liberty to the assessee to revive the appeal in case occasion arises. No decision was made on the merits of the case.

What were the facts?

The assessee, M/s Mangala Investments Ltd., filed an appeal before the High Court of Karnataka against an order dated May 1, 2017, passed by the Income Tax Appellate Tribunal (ITAT) in ITA No.1322/BANG/2012. The appeal pertains to the assessment year 1996-97. The revenue was represented by the Deputy Commissioner of Income-tax, Circle-1. The assessee's counsel filed a memo seeking leave to withdraw the appeal. The memo was taken on record by the Court.

What were the issues?

1. Whether the appeal filed by the assessee should be allowed to be withdrawn. Assessee's Contention: The assessee, through its counsel, filed a memo seeking permission to withdraw the appeal. No specific reasons were detailed in the provided text, but the memo was filed to seek leave of the Court to withdraw. Revenue's Contention: The revenue was represented by its counsel. No specific arguments or contentions from the revenue's side regarding the withdrawal of the appeal are recorded in the judgment.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 15TH DAY OF FEBRUARY 2021

PRESENT

THE HON’BLE MR. JUSTICE ALOK ARADHE

AND

THE HON’BLE MR. JUSTICE NATARAJ RANGASWAMY

I.T.A. NO.681 OF 2017

BETWEEN:

M/S MANGALA INVESTMENTS LTD., SYNDICATE HOUSE, MANIPAL – 576 104, REPRESENTED BY ITS SRI.TARANATH C KOTIAN AGED ABOUT 63 YEARS, SON OF SRI.CHANDAYYA KOTIAN .... APPELLANT (BY SMT.PRATIBHA R, ADV. FOR SRI S.PARTHASARATHI, ADV.)

AND:

THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1, AYAKAR BHAVAN, MALPE ROAD, AMBALPADY POST, ADIUDUPI, UDUPI-576 103. ... RESPONDENT (BY SRI.K.V.ARAVIND, ADV.) - - -

THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 01/05/2017 PASSED IN ITA NO.1322/BANG/2012, FOR THE ASSESSMENT YEAR 1996- 97, PRAYING TO:- I. FORMULATE THE SUBSTANTIAL QUESTIONS

OF LAW STATED THEREIN, II. ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSED OF THE ITAT DATED:01/05/2017 IN SO FAR AS IT PERTAINS TO THE APPELLANT’S APPEAL IN ITA NO.1322/BANG/2012 FOR THE ASSESSMENT YEAR 1996-97; AND III. PASS SUCH OTHER SUITABLE ORDERS AS THIS HON’BLE COURT DEEMS FIT TO GRANT ON THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY.

THIS I.T.A. COMING ON FOR FINAL HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING:

JUDGMENT

Smt.Pratibha.R, learned counsel appearing for Sri.S.Parthasarathi, learned counsel for the assessee.

Sri.K.V.Aravind, learned counsel for the revenue.

Learned counsel for the assessee has filed a memo seeking leave of this Court to withdraw the appeal.

The aforesaid memo is taken on record.

For the reasons assigned in the memo, the appeal is dismissed as withdrawn with liberty to revive the same in case, occasion so arises.

Sd/- JUDGE

Sd/- JUDGE

dn/-

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